Hong Kong establishment-business
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South China Morning Post · Hong Kong · Xi holds the line: no big stimulus as China fights deflation and the Iran shock
Reads the Politburo's response to the Iran-war oil shock as 'flexible and targeted' monetary easing plus front-loaded infrastructure — not the broad consumer stimulus markets wanted. Frames the July Politburo as the real decision point on the 4.5–5% target.
“Beijing leaned on flexible, targeted policy and faster infrastructure rather than the broad consumer stimulus many had hoped for.”